Linklaters advises CPP Investments on strategic partnership with Octopus Energy Group

Linklaters has advised the Canada Pension Plan Investment Board (CPP Investments), the investment manager of the C$541 billion CPP Fund, on a long-term strategic partnership with Octopus Energy Group, a global clean energy tech pioneer.

The partnership is formed of an initial $300 million equity investment from CPP Investments with an aspiration to grow the level of committed capital over time to support Octopus in its mission to drive the global green energy revolution.

The initial commitment and broader partnership will help to grow Octopus’s proprietary smart grid customer service technology platform, Kraken, to boost Octopus’s smart grid capabilities and help expand the company’s green energy generation.

The investment will also allow Octopus Energy Fan Club to add 30 more wind turbines for cleaner and cheaper energy for communities, drive technology development and expand more rapidly across the globe.

The Linklaters team advising on the deal was led by Jessamy Gallagher, Global Infrastructure Co-Head and M&A Partner, alongside Alistair Fraser, Corporate Managing Associate. Other key members of the Linklaters team included Matt Keogh, Investment Funds Partner London, and Matt Holt, Investment Funds Senior Associate, Washington. Rachel Hetherington and Anand Patel advised on antitrust and foreign direct investment matters. 

Jessamy Gallagher, Global Infrastructure Co-Head and M&A Partner, said:

“We were pleased to support CPP Investments on this strategic partnership, which will aid the delivery of net zero goals through investment in tech-enabled energy companies with a focus on renewable energy sources. The deal was both innovative and highly complex and required a highly coordinated cross-practice team, drawing on expert knowledge from across our M&A, energy transition, energy technology, and investment funds and specialist regulatory groups.” 

As an investor and partner, CPP Investments is focused on identifying investment opportunities associated with sustainability. It is active across the global energy system with total assets of approximately C$19.5 billion in the Sustainable Energies Group, including specific investments in renewables, utilities, and power generation.

Linklaters has market-leading expertise across geographies and sectors to advise clients on the full spectrum of climate and sustainability-related issues – from climate change, to renewables and sustainable finance. The firm is at the forefront of the largest and most significant global climate-related deals and mandates from wind and solar, to hydrogen, batteries and storage, green and sustainability-linked bonds and advice in relation to climate strategy and transition plans.